A total 1486 lots was traded in March, 193 lots ahead of January 2016 which was the previous second place holder. With just three trading days left in Europe for the month, March is only 93 lots behind the current record month of November 2015. There is an average volume of 83 lots per day for the month to date, so it appears likely that March 2016 will be the EEX’s new record month.
Last week, 235 lots (1175t) was traded, with the majority being in skim milk powder (SMP). 50t of butter was traded. Most of the trading occurred on Tuesday and Wednesday.
SMP prices on the EEX futures market remain below the intervention price until the June futures contract. The March 2016 futures contract is priced at €1634/t. Movements last week were mixed, split evenly between prices increasing and prices decreasing. Movements were small however.
Butter futures prices on the EEX market have lifted slightly, and are trading between €2398/t for the March futures contract and €2565/t for the September futures contract.
Whey futures prices have seen little change, and are priced at €500/t for the next three contract months.
